CoreLogic: Brisbane property selling for big profits

first_imgKyle Hughes is selling the house he has renovated atEast Brisbane. Picture: Mark Cranitch.BRISBANE’S property market has chalked up more profitable sales than any other region in Queensland with the latest figures revealing nine in ten sales were for more than owners originally paid.According to CoreLogic’s latest Pain and Gain report, 92.8 per cent of property sales in Brisbane were for a profit in the December quarter and the median gross profit was $175,000.This was up from 92.4 per cent of sales in the previous quarter.Of the 7.2 per cent of sellers who sold for less than they originally paid the median loss was $26,000. CLICK here to get the latest real estate news direct to your inbox CoreLogic analyst Cameron Kusher said there was a pretty low proportion of houses reselling at a loss in Brisbane, 4.1 per cent, but for units there was quite a high proportion of 21 per cent. “That is an interesting trend that is kind of emerging, a lot of unit development is going on so we are starting to see the underperformance there,’’ he said. The Redland LGA where this home at13 Artic St, Thornlands is listed for sale had a high percentage of profit making sales. Picture: realestate.com.au“But houses are still pretty sought after, particularly in the Brisbane and the Redlands Council areas, that’s where you are seeing the lowest proportion of resales at a loss overall.’Kyle Hughes and Margarita Escartin hope the results are good news for the upcoming sale of their East Brisbane home.The couple bought the home at 69 Gresham St, about ten years ago and have now listed it for sale through Henry Hodge of McGrath Estate Agents.The post war home has five bedrooms and is on a 706sq m block about 2km from the Brisbane CBD.Mr Hughes said the location was what had initially appealed to them because it was close to where their sons’ school.Over the years they have renovated it and completed the work about six months ago before deciding it was time for a change and to buy in northern New South Wales.“When we bought all of the structural work had been done,’’ Ms Escartin saidMr Hughes said they thought it was a good time to be offering the home for sale now and it was good that so many Brisbane homes were achieving profitable results.“We have seen some high sales in the area around here,’’ he said. Toowoomba LGA had the highest level of profit making sales in Queensland. This home at88 Taylor St, Newtown in Toowoomba is listed for sale. Picture: realestate.com.auMore from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours ago THESE markets are swell locations Mr Kusher said other council areas were improving as well.Across the broader southeast Queensland region, Toowoomba had the lowest level of properties selling for a loss, 6.5 per cent, followed by Redland 7 per cent, The highest levels of loss were recorded in the Lockyer Valley, 19.5 per cent, Scenic Rim 15.5 per cent and Somerset 14.3 per cent.Some of Queensland’s regional markets fared substantially worse. Mackay continued to hold the honour of the highest proportion of loss making sales with more than half, 58.4 per cent, of properties, selling for less than owners originally paid.Fitzroy in Queensland had a 44.3 per cent level of loss making sales and Townsville 42.6 per cent.“I think it is going to take quite a while to turn them around significantly,’’ Mr Kusher said“If you look at Mackay for example, it did actually pull back a little bit, the percentage of loss making sales over the quarter. Same in Townsville, same in Fitzroy but they are still very elevated and it is going to take those markets a long time to improve because anyone that has bought over the last four or five years at least is going to see the value of their property significantly lower than what they purchased it for and that is ultimately the challenge.’’ LGA % OF LOSS MAKING SALES AND MEDIAN PROFIT Brisbane 92.8% – $175,000Gold Coast 89.9% – $117,000 Ipswich 88.2% – $70,500Lockyer Valley 80.5%- $64,500Logan 92.4% – $93,000Moreton Bay 92.2% – $80,000 Redland 93% – $100,000Scenic Rim 84.5% – $73,250 Somerset 85.7% – $54,750Sunshine Coast 90.7% – $102,000 Toowoomba 93.5% – $74,000last_img read more

Manchester United boss Van Gaal wary of Swansea threat

first_img Press Association Manager Louis van Gaal expects Manchester United’s superb defensive record to come under threat at Swansea on Sunday. United’s defence was expected to be their weak point this season, but they have not conceded in their first three Premier League matches. That may change on Sunday when they visit the Liberty Stadium, however. “I don’t want to lose again,” Van Gaal told MUTV. “It’s the only club we could not beat or gain one point against [last season]. “It’s a difficult team against us and before my period it was also difficult for United, so I hope we can improve and that we can show that we are better than last year.” United warmed up for the match in the best possible fashion by hammering Club Brugge 4-0 in the Champions League on Wednesday. Wayne Rooney scored a hat-trick and Ander Herrera chipped in with another goal as United sealed their progression to the Champions League group stages with a 7-1 aggregate win. Juan Mata was impressed by the performance but knows success in the Premier League is just as important to the club as European glory. “The Champions League is the best competition to play in,” the United playmaker said. “I’ve been lucky enough to win it once and it’s amazing. Last season it was difficult to watch the games; now we have the chance to enjoy it. “But while we are happy about that, it’s now time to think about the next game on Sunday. From now on we want to win every game in the Premier League.” Mata’s week got even better on Friday when he was recalled to the Spain squad for the upcoming Euro 2016 qualifiers with Slovakia and Macedonia. “I am very happy,” he said. “It’s amazing to play for your country. I have done it many times but it’s been a while since the last time so I am very happy and proud. “We have important games for the European Championships. We have Slovakia, the team leading the group, and Macedonia so it will be tough, but we are looking forward to it.” Mata is almost certain to keep his place in the starting XI for Sunday’s game in Swansea. Adnan Januzaj and Phil Jones are both out through injury, but Marouane Fellaini is available following a three-match domestic suspension. Swansea have devastating pace on both flanks, courtesy of Andre Ayew and Jefferson Montero, while Bafetimbi Gomis has bagged three goals in three games up front. “Swansea are a very good team,” said the United manager, who lost twice to Garry Monk’s men last term. “They play a positional game like we do. They want to build up and have a good attack with speed and creativity. “They proved they are a good team this season in the draw against Chelsea and against Newcastle, and when I see the individual players I see that they have quality. “You spoke about Montero but they also have Ayew, Gomis and (Gylfi) Sigurdsson who have creativity. They are a difficult team to beat, especially away.” After tour wins over Real Madrid, Liverpool and Inter Milan, Swansea brought Van Gaal back down to earth by winning at Old Trafford on the opening day of last season. The Welsh side then completed their first league double over United with a 2-1 victory in Swansea in February. Van Gaal admits he could not stomach a third defeat to Monk’s side. last_img read more

Lincoln Reading Room features rare artifacts

first_imgWith the exception of law students, not many Trojans venture inside the USC Gould School of Law Library, but those who have might know about a unique presidential treasure that harks back to the days of Abraham Lincoln and the Civil War.Presidential · The Lincoln Library, located inside the Law School Library, includes a faux fireplace and an original lithograph of President Abraham Lincoln. – Phoebe Pan | Daily TrojanThis treasure is the Lincoln Reading Room, featuring a rare collection of letters, books and other Lincoln memorabilia dating back to the 1860s that open a window into the mind of one of the nation’s most revered presidents.The Lincoln Room officially opened February 12, 2009, in honor of Lincoln’s 200th birthday. The International Trial Lawyers Association donated the private collection after James Ackerman, a member of ITLA and USC Law alumnus of 1948, suggested it go to his alma mater.Students studying inside Lincoln’s living room can sit in replicas of Lincoln’s Victorian armchairs and gaze at lithographs of Lincoln’s family portraits above a faux fireplace while reading Lincoln biographies and books by Lincoln.Rebecca Neighbors, a second-year law student said, although none of her classes have discussed Lincoln, the nation’s 16th president has taught her powerful judicial lessons.“Lincoln had to make a lot of tough decisions in his time,” Neighbors said. “But he was not narrow-minded. Lincoln understood that law is not just about doing what’s right for you or your client. It’s about the bigger picture and Lincoln knew what was best for the future of this country.”The Lincoln Room houses historical classics recapping Lincoln’s career as a lawyer, famous debates with rival Stephen Douglas and copies of Lincoln’s famous presidential speeches, including the Emancipation Proclamation.Leonette Williams, associate director of the Law Library, said that although law students rarely have time to explore the contents of the Lincoln Reading Room, she hopes the collection leaves a lasting impression on students.“Students have enough to cover in law school and often don’t have to study anything but the law,” Williams said. “But we’d like to think it inspires them.”The Lincoln collection is the Law Library’s largest presidential collection, Williams said.Brian Raphael, assistant director of the Law Library, said the reading room and collection are open to all USC students.“The room is an informal place for all USC students to come and study,” Raphael said. “You can also request any book and take a look.”Raphael said not many students actually look inside the books, but those who are interested will be provided with white gloves and access to an exclusive viewing room.Eric Khodadian, a third-year law student and editor-in-chief of the Southern California Review of Law and Social Justice, said the Lincoln collection showcases the library’s rich historical perspective.“Lincoln was a model leader in spurring social change,” Khodadian said. “The Lincoln Room helps students appreciate Lincoln, who was a well-known attorney that traveled the circuit in a time when large law firms didn’t exist.”last_img read more